Ivanhoe Mines (OTCMKTS:IVPAF) Shares Gap Down - Should You Sell?

Key Points

• Ivanhoe Mines shares gapped down from $8.88 to $8.55 before recovering to last trade at $9.10.
• Analysts have given Ivanhoe Mines a mixed rating, with five analysts rating it as "Strong Buy" and one as "Hold," reflecting overall confidence despite recent performance.
• The company reported earnings per share of $0.03, missing the consensus estimate by $0.01, and revenue of $96.76 million, below expectations of $101.84 million.

Shares of Ivanhoe Mines Ltd. (OTCMKTS:IVPAF - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $8.88, but opened at $8.55. Ivanhoe Mines shares last traded at $9.10, with a volume of 29,147 shares.

Analyst Upgrades and Downgrades

IVPAF has been the topic of several research reports. Canaccord Genuity Group raised Ivanhoe Mines to a "strong-buy" rating in a report on Friday, June 13th. Scotiabank lowered Ivanhoe Mines from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 12th. UBS Group raised Ivanhoe Mines to a "strong-buy" rating in a report on Thursday, June 12th. Raymond James Financial raised Ivanhoe Mines to a "moderate buy" rating in a report on Monday, June 30th. Finally, TD Securities raised Ivanhoe Mines to a "strong-buy" rating in a report on Tuesday, June 3rd. Five analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Strong Buy".

Ivanhoe Mines Price Performance

The company has a 50-day moving average of $8.33 and a two-hundred day moving average of $8.69. The stock has a market capitalization of $12.43 billion and a PE ratio of 18.56.

Ivanhoe Mines (OTCMKTS:IVPAF - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $96.76 million during the quarter, compared to analysts' expectations of $101.84 million.

About Ivanhoe Mines

Ivanhoe Mines Ltd. engages in the mining, development, and exploration of minerals and precious metals primarily in Africa. It explores for platinum, palladium, nickel, copper, gold, rhodium, zinc, silver, germanium, and lead deposits. The company's projects include the Platreef project located in the Northern Limb of South Africa's Bushveld Complex; the Kipushi project located in Haut-Katanga Province, Democratic Republic of Congo; and the Kamoa-Kakula project located within the Central African Copperbelt.